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EU bans investments and deliveries of goods and oil-gas prospecting equipment to Crimea

December 18, 2014, 17:44 UTC+3 BRUSSELS
According to the EU Council's document, Investments in Crimea and Sevastopol are illegal as of December 20, 2014
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© ITAR-TASS/Valery Sharifulin

BRUSSELS, December 18 /TASS/. The European Union on Thursday banned European companies from investing in Crimean economy and buying real estate, building infrastructure and rendering tourism services on the peninsula, the EU Council said in a statement received by TASS.

Investments in Crimea and Sevastopol are illegal as of December 20, 2014. Companies based in Europe can no longer buy real estate in Crimea or finance Crimean companies, the EU Council’s document said.

European operators are no longer allowed to render tourism services in Crimea and European cruise vessels no longer have the right to call at Crimean ports, except for emergencies. This applies to all ships belonging to EU companies or flying the European Union flag.

The EU Council has also banned deliveries of separate goods and technologies to Crimea in the field of transport, telecommunications as well as the prospecting and extraction of oil, gas and mineral resources.

Technical and intermediary help for the construction and maintenance of infrastructure in those sectors has also been announced illegal.

The text of the document is expected to be published in the Official Journal of the European Union on Friday. It means that the restrictive measures will come into force on Saturday.

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